US regulators warn financial institutions on supporting affiliated investment funds
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In a joint statement released on January 5, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the Office of Thrift Supervision warned that investment advisory services can pose material risks to a financial institution's liquidity, earnings, capital and reputation and can harm investors, if the associated risks are not effectively controlled.
“Today's policy statement is prompted by recent market
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